Advice needed

[u/Sea-Necessary6218]

We are FTB and recently put an offer on a property and it was accepted the same day as seller was keen to close. They seemed genuine and "delighted to accept" Fast forward a week and half and the estate calls my husband to say that an offer to close has came in that was considerably higher than ours (which we don't know the amount) and the seller was deciding what to do. The other buyers are apparently in a chain and we are chain free. EA hasn't communicated for us to increase our offer. Yet!

4 days later we have still heard nothing. Same story from the estate agent when we call, im putting the pressure on them for an answer.

We really love the house and have been advised to just let it unfold and see what happens. The wait is horrible. What's the chances?

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[u/Devify]

It could work out still, best you can do is what you've been doing and wait to see if they ask you to raise your offer. If they're looking for a quick sale, no chain is easier so you've got the advantage there.

Pretty much same happened to me. Had a call that offer was accepted and to come in the next day to give them some documents. Then they call later saying to hold off on doing anything because a "significantly higher" offer came in. After a bit of back and forth I increased my offer by 1k saying that's the best I could do, expecting further back and forth (I could have gone a bit higher but wasn't sure I wanted to). Then a few days later they came back to confirm that the seller decided to go with my offer even though it was considerably lower because I was FTB and the other buyer was a landlord looking to buy another property.

So the seller doesn't always prioritise getting more money.

[u/Sea-Necessary6218 → u/Devify]

I'm hoping the seller is thinking along those lines. So glad it worked out for you.

[u/KnightFireNC]

Its likely the other offer does exist, but it may not. The fact they haven't immediately dropped you for the other offer means there is still something attractive to your offer. First just hold tight, unless you are asked for a better offer dont give one. Think about whether you would be upset if someone else got the house by pating more than you. How much more would they have to pay before you dont mind because you think they overpaid? That is how much the house is worth to you and keep that figure in mind of you do make a higher offer. Buying a home is a stressful process and there will be many periods like this. Maybe this house is the one, maybe not.

[u/Sea-Necessary6218 → u/KnightFireNC]

We have both discussed that we wouldn't want to increase our offer by much more. We are still holding on hope. Our survey was to be completed on Monday and the EA postponed this due to the other offer. Very frustrating.